On July 12, 2024, the State Bank of Vietnam (SBV) issued Decision No. 1478/QD-NHNN announcing a number of amendments and supplementations of the administrative procedures for the establishment and operations of banks, which are performed at the Single Window Service under the SBV’s jurisdiction.
The amended and supplemented administrative procedures, which are related to the establishment and operations of banks, are those stipulated in Decree No. 86/2024/ND-CP dated July 11, 2024, which are performed at the Single Window Service under the SBV’s jurisdiction.
The amended and supplemented administrative procedures are the procedures for the approval of the application of a foreign bank’s risk provisioning policies for the debt classification, the risk provisioning, and the utilization of the provisioning funds to mitigate the risks by that foreign bank’s branch in Vietnam.
This Document took effect from the date of signing. This Decision shall amend and supplement the administrative procedures under the following code: 1.010226, which was previously announced in Decision No. 1398/QD-NHNN dated September 1, 2021.
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